Price-gain pace slows

Saturday

Jul 5, 2014 at 12:01 AMJul 6, 2014 at 9:10 AM

U.S. home prices rose in May compared with a year earlier, but the gains have slowed. Data provider CoreLogic said last week that prices, including foreclosures and short sales, increased 8.8 percent in May compared with 12 months earlier. The pace of gains has slowed as more homes have come onto the market nationally, according to CoreLogic.

Jim Weiker, The Columbus Dispatch

U.S. home prices rose in May compared with a year earlier, but the gains have slowed.

Data provider CoreLogic said last week that prices, including foreclosures and short sales, increased 8.8 percent in May compared with 12 months earlier. The pace of gains has slowed as more homes have come onto the market nationally, according to CoreLogic.

On a month-to-month basis, prices rose 1.2 percent from April to May. CoreLogicís monthly figures arenít adjusted for seasonal patterns.

Prices increased the most in Western states, including Hawaii, California and Nevada. Ninety-four of the 100 largest metro areas reported higher prices in May compared with a year earlier.

In Columbus, home prices, including foreclosures and short sales, increased by 8.4?percent in May 2014 compared with May 2013, according to CoreLogic. Excluding distressed sales, year-over-year prices increased by 4.3 percent in May?2014 compared with May 2013.

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